Property Market: First Person
Everybody's claiming poverty nowadays, which is annoying for those of us who were there years ago, leading the fashion. Suddenly we don't look so cutting edge in our charity-shop outfits, and our moving tales of hardship are drowned out in the general chorus.
Still, dinner-party conversations are more interesting now, as dramatic tales of real strife and suffering begin to replace the litany of how much everybody's property has increased in value since the last dinner party… or worse, how much everybody's buy-to-let property portfolio has increased.
Nothing is as boring as a buy-to-let property portfolio, unless you happen to be the person counting the rents. Which I'm not. This is because of the great split that now divides the middle class. On one side you have the bumper bonus boys who lark about in the city all day shouting at BlackBerrys, and on their way home buy a £1 million diamond-encrusted door handle – just because they can. On the other side are the hard-up professionals who do the vital and constructive jobs that keep the country running: the teachers, civil servants, health workers, and of course, the writers.
More Recent News
- New Year same trouble Alex Coxall 6 Jan. 2009 The 2009 RICS forecast predicts a further fall this year of 10% in average property price, which would mean a peak to trough drop of 25%. The predictions are based on the continued reluctance of lenders to lend and the increasingly glum economic climate we are facing. Read more
- Darling considers credit guarantees Bloomberg.com 11 Dec. 2008 Dec. 10 (Bloomberg) -- U.K. Chancellor of the Exchequer Alistair Darling is considering credit guarantees for households and companies to spur bank lending, a person familiar with the plan said. Read more
- Rics figures show November fall Alex Coxall 11 Dec. 2008 Figures released by the Royal Institution of Chartered Surveyors (Rics) show that property prices have continued to decline during November. Read more
- Price drop slows slightly Alex Coxall 27 Nov. 2008 The rate of house price drop fell in November according to figures released by Nationwide today. The market however remains nearly 14 % lower than it was a year ago, as buyers remain worried and lending remains curbed. Read more
- Housing market Downfall 27 Nov. 2008 Famous scene from an award winning film reworked. Read more

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